SOLD
Danny Wrublin Acquires Mixed-Use Property In Williamsburg, Brooklyn For $6.6M
116 Bedford Avenue
Mixed-use
7,075 SF
7,075 SF
Sold 122 days ago
Summary
Sale
NEW YORK
Mixed-use
7,075 sqft
The mixed-use property located at 116 Bedford Avenue in Williamsburg, Brooklyn has been sold in a recent transaction. The property, with a size of 7,075 square feet, was sold for a price of $6,600,000, resulting in a price per square foot of $933.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $6,600,000
- Address: 116 Bedford Avenue
- Market: Williamsburg, Brooklyn
The buyer of the property was Danny Wrublin, while the seller was Alex Maroni. The deal was facilitated by brokers Shaun Riney, Michael Salvatico, Samuel Leppo from Marcus & Millichap, and Matthew Sobel from Dalan Management, with Danny Wrublin also representing his own interests. The transaction closed in a 30-day timeframe, with emphasis on timing due to multiple 1031 exchanges being orchestrated. The purchase was made above a 7% cap rate, showing the buyer's opportunistic approach and attention to deals. The NYM group, who previously owned the property, has now sold all their covid-era purchases and invested the profits into new assets for further gains. The deal was successfully completed with the assistance of Seth Romanick, sellers counsel. For more information or to explore similar opportunities, interested parties can contact Shaun Riney at 718-475-4369 or Mike Salvatico at 718-475-4358.
Players
All
7
Agents
5
Agencies
2
Details
SOLD
IMAGE: Samuel Leppo, Matthew Sobel, Shaun Riney, Danny Wrublin & Michael Salvatico
DATE: 12/29/2023
ADDRESS: 116 Bedford Avenue
MARKET: Williamsburg, Brooklyn
ASSET TYPE: Mixed-use
BUYER: Danny Wrublin
SELLER: Alex Maroni
BROKERS: Shaun Riney (@ShaunRiney1), Michael Salvatico (@MikeSalvatico) & Samuel Leppo (@Leppo.CRE) - Marcus & Millichap (@MarcusMillichapinc); Matthew Sobel & Danny Wrublin - Dalan Management
SALE PRICE: $6,600,000
SF: 7,075 ~ PPSF: $933
NOTE FROM BROKER: This property sold above a 7% cap rate with a 30-day TOE close in Prime Williamsburg. Buyer was opportunistic and pays attention to our deals. Sellers valued timing more than price, as we are orchestrating several 1031 exchanges, with timing being a crucial element. Best of luck to the players this year! Special thanks to Seth Romanick, sellers counsel, for being a part of an excellent selling team. All covid-era purchases have now been sold by the NYM group and profits reallocated into new assets for new profits. Under the 30-day TOE gun debt secured by Max Ralby. Please call Shaun Riney if you are looking to make moves this year at 718-475-4369 or Mike Salvatico at 718-475-4358.View on map
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Address116 Bedford Avenue
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